Bruno Iksil the former JPMorgan Chase & Co. trader who became known as the London Whale as his unit began generating more than $6.2 billion in losses in 2012 surfaced on Monday to say he isnt responsible for the debacle.The Frenchman who isnt among former colleagues being prosecuted and has agreed to assist U.S. authorities in their cases wrote in a letter sent to Bloomberg that he was instructed repeatedly by managers in the chief investment office or CIO to execute the strategy that went awry. He said he objects to the whale nickname and his association [read more]

Fundamental News AUDUSDThe Australian dollarretreated after its biggest daily advance in more than two weeks took it closeto a resistance level it hasnt breached since 2014. Australias dollar slipped0.2 percent to 72.13 U.S. cents as of 1052 a.m. in Tokyo after climbing 1.1percent on Monday the most since Feb. 3. Its 200day moving average was at72.75 cents.  The currencys advance raised the prospect that [read more]

FromMy Analysis Desk...SummaryThe Dow Future has gained 32 points to 20819. The US Dollar Index climbed 0.01 points to 101.14. Gold is dropping 1.325 dollars to 1255.330. Silver has retreated 0.0705 dollars to 18.3215. The Dow Industrials edged higher by 15.68 points at 20837.44 while the S&P 500 trended higher 2.39 points [read more]

Morning Briefing 19/4/17  07:34 Hk/Sg

From My Analyst DeskSummaryThe Dow Future is higher 156 points to 20570. The US Dollar Index softened 0.10 points to 100.30. Gold has eased 3.26 dollars to 1287.93. Silver is dropping 0.1120 dollars to 18.4865. The Dow Industrials gained 183.67 points at 20636.92 while the S&P 500 advanced 20.06 points last seen at 2349.01. The Nasdaq Composite gained 49.95 points to 5855.10. [read more]

From The Analyst DeskSummaryThe Dow Future is up 294 points to 21101. The US Dollar Index trended higher 0.40 points to 101.76. Gold is up 1.540 dollars to 1247.185. Silver is up 0.0870 dollars to 18.3920. The Dow Industrials climbed 303.31 points at 21115.55 while the S&P 500 edged higher by 32.32 points last seen at 2395.96. The Nasdaq Composite moved up 78.59 points to 5904.03. Currencies [read more]

Gold is probably finishing the most potent part of the rally from 2016and there is a mountain to climb ahead Gold is trading neartwoandahalf months highs of 1260 venturing near 200day moving average(dma) levels at 1262.The rallyhas been off a bounce from midDecembers 1122 lows effectively a 76.4%Fibonacci retracement of December 2015s significant lows at around 1046 vs.July 2016s spike high to 1375 at 1123.The rallywas to be expected and prompted tactical longs looking [read more]

From The Analyst DeskSummaryThe Dow Future has slipped 90 points to 21001. The US Dollar Index moved up 0.36 points to 102.13. Gold is trending lower 13.615 dollars to 1232.905. Silver has slid 0.6235 dollars to 17.7605. The Dow Industrials declined 112.58 points at 21002.97 while the S&P 500 declined 14.04 points last seen at 2381.92. The Nasdaq Composite moved down 42.81 points to 5861.22.Currencies [read more]

Morning Briefing 19/4/17  07:54 Hk/Sg

From My Analyst DeskSummaryThe Dow Future has slid 135 points to 20434. The US Dollar Index trended lower by 0.796 points to 99.504. Gold has gained 6.400 dollars to 1290.685. Silver is trending lower 0.06350 dollars to 18.34150. The Dow Industrials trended lower by 113.64 points at 20523.28 while the S&P 500 moved lower 6.82 points last seen at 2342.19. The Nasdaq Composite [read more]

The dollarcharges higher as the odds for an interest rate rise increase. Dollar bullsremained active sending the greenback to its longest winning streak since May.The dollars advance and declines in gold and Treasuries lined up withincreasing odds for tighter monetary policy which got a boost as Lael Brainardbecame the latest Fed official to support the case for tightening soon.The US Dollar Index (DXY) whichmeasures the American currency against six peers climbed 0.41% to 102.20.Canadas dollar weakened 0.49% ascrude oil slipped overshadowing fasterthanforecast economic growth lastquarter. The euro slipped for a third day falling 0.38% to USD1.0507. The [read more]

Based upon our technical studies no major chart damage hasoccurred due to todays sharp selloff. This most recent rally began at the endof last year at 1120 culminating on February 24 when prices reached 1263. Asimple Fibonacci retracement of this move indicates that the 23% retracement isat 1230.Todays intraday low of 1231 was clearly above that pricepoint. Our current levels of support are therefore 1230 (23% retracement) and1210 which is a .382 % retracement. A move below $1210 per ounce would clearlyindicate technical chart damage. However up until that point todays pricedecline can still be viewed as a [read more]